Oddo BHF Asset Management Sas Takes Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Oddo BHF Asset Management Sas acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,155 shares of the basic materials company's stock, valued at approximately $650,000.

Other hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC boosted its holdings in Steel Dynamics by 6.4% in the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company's stock worth $3,330,000 after purchasing an additional 1,585 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the 3rd quarter worth about $25,000. World Investment Advisors LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at about $15,880,000. Sanctuary Advisors LLC boosted its holdings in shares of Steel Dynamics by 10.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,881 shares of the basic materials company's stock valued at $2,128,000 after buying an additional 1,596 shares during the period. Finally, Coldstream Capital Management Inc. grew its position in shares of Steel Dynamics by 7.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,917 shares of the basic materials company's stock valued at $625,000 after buying an additional 336 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $4.54 during trading on Friday, hitting $122.37. 1,651,104 shares of the stock were exchanged, compared to its average volume of 1,333,208. The company's fifty day simple moving average is $137.11 and its 200-day simple moving average is $127.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 11.07 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 EPS. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.09 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is 16.65%.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective for the company. UBS Group reiterated a "neutral" rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of "Hold" and an average target price of $146.13.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.